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Digital Euro: Why Europeans Are Not Ready

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by Giorgi Kostiuk

4 months ago


The European Central Bank (ECB) announced the planned launch of the digital euro by October 2025, even though European citizens show little interest.

Accelerated Initiative Despite Citizens’ Disinterest

The ECB confirmed their plans to launch the digital euro by October 2025. However, the launch depends on the approval of key European bodies including the European Commission, Parliament, and Council. A recent survey of 19,000 citizens across 11 EU countries revealed low interest in the new currency, with most respondents believing that current payment methods meet their needs. The ECB aims to employ targeted communication methods, such as video content, to alter existing perceptions.

The Real Stakes Behind the Digital Euro

The ECB's primary motivation is to reduce the EU's dependency on foreign payment systems like Google Pay and Apple Pay. The geopolitical context also influences the digital euro project. The introduction of the digital euro is intended as a response to the rising popularity of cryptocurrencies and stablecoins in the US. Notably, US President Donald Trump signed an executive order banning national digital currencies in January 2025, highlighting the ECB's view of the digital euro as a strategic necessity. The digital euro would imply centralized control with programmability features, setting it apart from decentralized cryptos.

Towards a Discreet but Inevitable Integration

Despite the lack of public interest, the ECB is pushing forward with its digital euro projects. The Chinese experience with e-CNY can serve as a model: despite a slow start, the digital yuan became significantly popular. The ECB plans to integrate the digital euro gradually into existing payment apps and systems, allowing for adoption without requiring direct persuasion of users. The EU is also experimenting with a wholesale version of the digital euro using distributed ledger technology for interconnecting financial institutions.

The digital euro, despite citizen opposition, is likely to become part of the EU's economic framework. European institutions are determined to continue with the project, even if it takes time and effort.

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